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MOL Plc. hereby announces that it has made a new (forth) discovery of gas and condensate from Maramzai-1 well in the Tal Block, located in the Northern Western Frontier Province of Pakistan.

The production of Maramzai-1 well is 1.1 million cum/day (38.3 MMscfd; 6.4 th boe/day) gas and 228 cum/day (1,434 bbl/day) condensate at 220 bar (3,197 psig) flowing wellhead pressure through 48/64” choke. The production rates can improve further after acid stimulation of two limestone reservoirs in the well.

After that the consortium will be conducting further extended tests to evaluate the size and economic potential of the reserves. Further information will be provided in due course.

Hydrocarbon exploration has been carried out in this block since 1999 by a consortium of companies including Oil and Gas Development Co. Ltd (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Ltd (POL) and Government Holdings (Pvt.) Ltd (GHPL) with MOL as an Operator of this Joint Venture. MOL has a 10% interest in the consortium.

Our exploration activity resulted in the first discovery (Manzalai-1 well) in December 2002. After seismic acquisitions performed in 2003 the consortium decided to drill a new exploratory well (Makori-1 well) in 2004. The drilling was successful, MOL announced the discovery in January 2005. MOL has made its third discovery of gas and condensate in the Tal Block (Mami Khel-1 well) in March 2008.

Mr. Zoltán Áldott, Exploration and Production Executive Vice President of MOL said: “This discovery has further strengthened our confidence in the potential of the Tal block, that already is seen as a major source of energy for Pakistan in the future. Due to the already existing infrastructure this well will be put on production on fast track by summer 2010.”

MOL Pakistan, member of MOL Group, showed again its commitment as an active corporate responsible citizen with its support to the government and the Pakistani people in helping local communities during calamities.

Military operations are ongoing against anti-state elements in Pakistan’s Swat and other districts of Malakand division in North Western Frontier Province (NWFP), which resulted in migration of masses to nearby districts, including the area where MOL Pakistan is operating.

Reacting to the request of the government, the company has immediately decided to help the IDPs by arranging the relief goods directly to those who need them and according the actual requirement, instead of just handing over a cheque to any of the funds. The aids consists of beds, food, clothes and other vital items and the value reaches 30 000 USD.

“MOL Pakistan and me personally were very much impressed of the trauma the people are going through. No human being should have to face such atrocities nowadays. We immediately mobilized ourselves to do whatever possible so that we can give a hand since we are aware that every gesture counts. I want to thank my colleagues, the employees of MOL Pakistan, that in parallel with our company’s initiative started a support campaign of their own. I am really proud to work with such quality people and I hope that every single person in Pakistan and in the world will do the same.”

A donation campaign for the IDPs is also in progress from the employees of MOL Pakistan Oil & Gas Co BV and will be sent as second installment within 10-15days.

PPEPCA is the premier body of the companies involved in E&P business in the country the association plays a crucial role for coordination between the E&P companies. It also provides inputs to the government for facilitating the policy making process.

Mr. Fehér has brought a wealth of international experience in Exploration and Production projects from across the globe to ensure that MOL Group achieves its desired position and long-term goals in Pakistan.

Janos Fehér after acquiring the seat as the new Chairman of PPEPCA said, "I am thankful to the members of E&P community in Pakistan for once again giving me the responsibility of representing PPEPCA. I assure them that as the Chairman PPEPCA, we will continue the tradition of working with mutual consultation towards better understanding and closer co-operation with the government and all other key stakeholders of the E&P sector in Pakistan."

MOL Pakistan Oil and Gas Company B.V as an Operator of TAL Block along with joint venture partners Government Holdings (Private) Limited, Oil and Gas Development Company Limited, Pakistan Petroleum Limited and Pakistan Oilfields Limited is pleased to state that hydrocarbons have been encountered in its exploratory well, Maramzai-1, which is being drilled in TAL Block, located in NWFP Province of Pakistan..

In the Lockhart Formation, upper 75 meters of the drilled section produced around 12 MMscfd gas and 430 bbls per day condensate during Barefoot DST @ 32/64” fixed choke size at flowing wellhead pressure of 2483 psi. The discovery is made in the uppermost reservoir section of the well and drilling is continued to penetrate and test the lower potentially prospective zones.

The full extent of discovery from the well will be known once the well reaches the planned Total Depth during next 2 ½ months.

The sales of natural gas to SNGPL, from the newly completed Central Processing Facility (CPF) at Manzalai, Tal Block (NWFP) commenced early hours on Wednesday at a rate of 60 MMCFD and the was expected to rise up to 120 MMSCFD by the evening of the same during the initial phase.

Upon the completion of the remaining works the gas deliveries would, soon, further rise up to at least 200MMSCFD along with condensate production of around 4000bpd. The sales from the CPF, alone, are scheduled to be increased to 300MMSCFD with effect from January, 2013.

The Government of Pakistan granted Tal Petroleum Concession & Exploration License to MOL in TAL Block (3370-3) with the Oil & Gas Development Corporation Ltd (OGDCL), Pakistan Petroleum Ltd (PPL) and Government Holdings (Pvt.) Ltd (GHPL) as Joint Venture Partners on February 11, 1999. Pakistan Oilfields Ltd (POL) also joined the TAL consortium in 2001.

Managing Director MOL Pakistan, Mr. Janos Feher present at the first production of the CPF said “We are absolutely delighted over the start of CPF. This is the reflection of the hard work of the MOL Pakistan team, support of the joint venture partners and continuous encouragement of the Government of Pakistan and Government of NWFP. We are also thankful to all our vendors who have helped us complete this dream.”

MOL Pakistan has always made efforts to encourage healthy activities in its operational area and to involve the local youth of the area which would help us to make inroads into the local community and give a boost to MOL’s image in the area.

However special people need special attention and should always be encouraged to participate in healthy activities and feel as a part of the mainstream

Pakistan Cricket Association for Physically Handicapped (PCAPH) Islamabad made arrangements for such an activity on the Eve of the 62nd Independence Day of Pakistan, which was wholeheartedly supported by MOL Pakistan as the Main Sponsor.

The Twenty 20 cricket match was played between the teams of Physically Handicapped and TV / Media Icons of Pakistan on 14th August, 2009 at 5:00 PM at Margalla Cricket Ground, G-9 Markaz Islamabad.

The audience and the guest speakers on the occasion appreciated the role of MOL Pakistan for their support in organising such activities which will not only create awareness amongst the general public about these special people but will also bring a good name for MOL Pakistan.

At the end of the day and night match, a closing ceremony was held and awards were distributed amongst the players of participating teams. Lt Col Engr. Niaz Safdar (R), Manager, Community Development, MOL Pakistan attended the function as the Chief Guest on the advice of MD / CEO Mr. Janos Feher, along with Mr. Raja Gulfraz, Head Management Support.

He explained the desire of MOL Pakistan to sponsor such healthy activities in the future and the role being played by MOL Pakistan in the uplift of the area, notwithstanding the fact that MOL Pakistan had as yet not started its activities in Margalla and Margalla North Blocks.

On the occasion medals / awards and souvenirs were also handed out to the teams and other participants.

Mr. János Fehér, Managing Director/CEO of MOL Pakistan Oil & Gas Co. B.V has been elected as the Chairman Pakistan Petroleum Exploration & Production Companies Association (PPEPCA) for the year 2008-2009.

Mr. Feher has brought a wealth of international experience in Exploration and Production projects from across the globe to ensure that MOL Group achieves its desired position and long-term goals in Pakistan. Prior to taking over Pakistan operations he held various senior level positions in MOL Head Office in Budapest and also headed Syrian E&P Operations of MOL Group.

PPEPCA is the premier body of the companies involved in E & P business in the country. The association plays a crucial role for coordination between the E & P companies. It also provides inputs to the government for facilitating the policy making process.

Mr. Janos Feher after acquiring the seat as the new Chairman PPEPCA said “I am thankful to the members for trusting me with this responsibility and assure them that PPEPCA will continue to play its role for better understanding and closer cooperation with the government and all other key stakeholders of the E & P sector in Pakistan.”

MOL, one of the leading integrated Oil & Gas companies of the Central and Eastern Europe has taken note of the of OMV’s decision to abandon its hypothetical approach for MOL, says a press release issued here Wednesday.

A statement issued by MOL Pakistan on behalf of the Mol Group said “This decision recognizes, as MOL has consistently maintained for over a year, that their irrational business plan for combination of the two businesses raised very serious competition issues, was inherently value-destructive and would be against economic and strategic rationale”.

About MOL Pakistan: MOL Pakistan is a wholly owned subsidiary of MOL Group working in Pakistan since 1999 and has to its credit significant hydrocarbon discoveries in Tal block of NWFP province. It also has two more concessions in Margalla and Margalla North Blocks where initial studies are being carried out. Recently it has also acquired shares in Karak Block of NWFP.

MOL Pakistan Oil and Gas Company B.V as an Operator of TAL Block along with joint venture partners Government Holdings (Private) Limited, Oil and Gas Development Company Limited, Pakistan Petroleum Limited and Pakistan Oilfields Limited is pleased to state that hydrocarbons have been encountered in its exploratory well, Maramzai-1, which is being drilled in TAL Block, located in NWFP Province of Pakistan..

In the Lockhart Formation, upper 75 meters of the drilled section produced around 12 MMscfd gas and 430 bbls per day condensate during Barefoot DST @ 32/64” fixed choke size at flowing wellhead pressure of 2483 psi. The discovery is made in the uppermost reservoir section of the well and drilling is continued to penetrate and test the lower potentially prospective zones.

The full extent of discovery from the well will be known once the well reaches the planned Total Depth during next 2 ½ months.